Siemens Reports 2014 Third Quarter Results

Munich – Siemens released their earnings report for the third quarter of the 2014 fiscal year on July 31. Third-quarter revenue was 4% lower year-over-year, and orders came in 3% below the prior-year period. The book-to-bill ratio was 1.08 for the quarter, and Siemens’ order backlog was €101 billion.

On an organic basis, excluding currency translation and portfolio effects, revenue rose 1% and orders were stable year-over-year.

Total Sectors profit rose 37%, to €1.739 billion, highlighted by substantial profit improvements in Infrastructure & Cities and Industry, and income from continuing operations climbed 36%.

Net income for the third quarter rose 27% year-over-year, to €1.399 billion, and basic earnings per share (EPS) increased to €1.62.

Free cash flow from continuing operations was €1.127 billion, up from €996 million in the third quarter a year earlier.

“While we made good progress in most areas, the Energy Sector poses a continued challenge in the quarters to come.”Siemens – Vision 2020′ leads the way to sustainable performance improvement,” said Joe Kaeser, President and Chief Executive Officer of Siemens AG.

During the third quarter of fiscal 2014, nearly all activities of the Metals Technologies business were classified as discontinued operations. Certain projects were classified as centrally managed portfolio activities. Prior-period results are presented on a comparable basis.

Please read the complete Earnings Release here: Earnings Release

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